Free Trial
US TSY FUTURES

Screen Lift Helps TYU2 To Fresh Session Highs

US TSY OPTIONS

Further Upside Expression Noted

GOLD

ANZ: Turning Tide

JGBS AUCTION

Japanese MOF sells Y4.54004tn 3-Month Bills:

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

CZKPLN Risk Reward Skewed To Downside, But Russia 'Default' May Weigh on PLN

CEE
  • CZKPLN ticks higher on Monday, currently trading slightly above the 0.19 level; ST resistance to watch on the topside stands at 0.1917.
  • We previously mentioned that the risk-reward on the CZKPLN is skewed to the downside in the medium term amid slowly growing MP divergence between CNB and NBP .
  • Even though momentum on the pair continues to look bullish (MT chart), investors will carefully watch the 0.1850 – 0.1855 support zone; a break below that level would indicate the start of a 'bearish' retracement and would open the door for a move down to 0.1827 (38.2% Fibo of the 0.1634 – 0.1947 range).
  • Geopolitical uncertainty remains the major risk of PLN though; the recent Russian ‘default’ adds more risk for the zloty in the near term.

Source: Bloomberg/MNI

135 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • CZKPLN ticks higher on Monday, currently trading slightly above the 0.19 level; ST resistance to watch on the topside stands at 0.1917.
  • We previously mentioned that the risk-reward on the CZKPLN is skewed to the downside in the medium term amid slowly growing MP divergence between CNB and NBP .
  • Even though momentum on the pair continues to look bullish (MT chart), investors will carefully watch the 0.1850 – 0.1855 support zone; a break below that level would indicate the start of a 'bearish' retracement and would open the door for a move down to 0.1827 (38.2% Fibo of the 0.1634 – 0.1947 range).
  • Geopolitical uncertainty remains the major risk of PLN though; the recent Russian ‘default’ adds more risk for the zloty in the near term.

Source: Bloomberg/MNI